diff --git a/bundle/config/interpolation/interpolation.go b/bundle/config/interpolation/interpolation.go
index f253241d..09dfc79a 100644
--- a/bundle/config/interpolation/interpolation.go
+++ b/bundle/config/interpolation/interpolation.go
@@ -2,6 +2,7 @@ package interpolation
 
 import (
 	"context"
+	"errors"
 	"fmt"
 	"reflect"
 	"regexp"
@@ -39,16 +40,23 @@ func (s *stringField) dependsOn() []string {
 	return out
 }
 
-func (s *stringField) interpolate(fn LookupFunction, lookup map[string]string) {
+func (s *stringField) interpolate(fns []LookupFunction, lookup map[string]string) {
 	out := re.ReplaceAllStringFunc(s.Get(), func(s string) string {
 		// Turn the whole match into the submatch.
 		match := re.FindStringSubmatch(s)
-		v, err := fn(match[1], lookup)
-		if err != nil {
-			panic(err)
+		for _, fn := range fns {
+			v, err := fn(match[1], lookup)
+			if errors.Is(err, ErrSkipInterpolation) {
+				continue
+			}
+			if err != nil {
+				panic(err)
+			}
+			return v
 		}
 
-		return v
+		// No substitution.
+		return s
 	})
 
 	s.Set(out)
@@ -163,7 +171,7 @@ func (a *accumulator) start(v any) {
 	a.walk([]string{}, rv, nilSetter{})
 }
 
-func (a *accumulator) expand(fn LookupFunction) error {
+func (a *accumulator) expand(fns ...LookupFunction) error {
 	for path, v := range a.strings {
 		ds := v.dependsOn()
 		if len(ds) == 0 {
@@ -176,24 +184,24 @@ func (a *accumulator) expand(fn LookupFunction) error {
 			return fmt.Errorf("cannot interpolate %s: %w", path, err)
 		}
 
-		v.interpolate(fn, m)
+		v.interpolate(fns, m)
 	}
 
 	return nil
 }
 
 type interpolate struct {
-	fn LookupFunction
+	fns []LookupFunction
 }
 
 func (m *interpolate) expand(v any) error {
 	a := accumulator{}
 	a.start(v)
-	return a.expand(m.fn)
+	return a.expand(m.fns...)
 }
 
-func Interpolate(fn LookupFunction) bundle.Mutator {
-	return &interpolate{fn: fn}
+func Interpolate(fns ...LookupFunction) bundle.Mutator {
+	return &interpolate{fns: fns}
 }
 
 func (m *interpolate) Name() string {
diff --git a/bundle/config/interpolation/lookup.go b/bundle/config/interpolation/lookup.go
index 93535cdd..932d739e 100644
--- a/bundle/config/interpolation/lookup.go
+++ b/bundle/config/interpolation/lookup.go
@@ -1,6 +1,7 @@
 package interpolation
 
 import (
+	"errors"
 	"fmt"
 	"strings"
 
@@ -10,6 +11,9 @@ import (
 // LookupFunction returns the value to rewrite a path expression to.
 type LookupFunction func(path string, depends map[string]string) (string, error)
 
+// ErrSkipInterpolation can be used to fall through from [LookupFunction].
+var ErrSkipInterpolation = errors.New("skip interpolation")
+
 // DefaultLookup looks up the specified path in the map.
 // It returns an error if it doesn't exist.
 func DefaultLookup(path string, lookup map[string]string) (string, error) {
@@ -29,7 +33,7 @@ func pathPrefixMatches(prefix []string, path string) bool {
 func ExcludeLookupsInPath(exclude ...string) LookupFunction {
 	return func(path string, lookup map[string]string) (string, error) {
 		if pathPrefixMatches(exclude, path) {
-			return fmt.Sprintf("${%s}", path), nil
+			return "", ErrSkipInterpolation
 		}
 
 		return DefaultLookup(path, lookup)
@@ -39,10 +43,10 @@ func ExcludeLookupsInPath(exclude ...string) LookupFunction {
 // IncludeLookupsInPath is a lookup function that limits lookups to the specified path.
 func IncludeLookupsInPath(include ...string) LookupFunction {
 	return func(path string, lookup map[string]string) (string, error) {
-		if pathPrefixMatches(include, path) {
-			return DefaultLookup(path, lookup)
+		if !pathPrefixMatches(include, path) {
+			return "", ErrSkipInterpolation
 		}
 
-		return fmt.Sprintf("${%s}", path), nil
+		return DefaultLookup(path, lookup)
 	}
 }
diff --git a/bundle/config/interpolation/lookup_test.go b/bundle/config/interpolation/lookup_test.go
index 594c5af8..61628bf0 100644
--- a/bundle/config/interpolation/lookup_test.go
+++ b/bundle/config/interpolation/lookup_test.go
@@ -31,7 +31,9 @@ func fixture() interpolationFixture {
 func TestExcludePath(t *testing.T) {
 	tmp := fixture()
 	m := interpolate{
-		fn: ExcludeLookupsInPath("a"),
+		fns: []LookupFunction{
+			ExcludeLookupsInPath("a"),
+		},
 	}
 
 	err := m.expand(&tmp)
@@ -46,7 +48,9 @@ func TestExcludePath(t *testing.T) {
 func TestIncludePath(t *testing.T) {
 	tmp := fixture()
 	m := interpolate{
-		fn: IncludeLookupsInPath("a"),
+		fns: []LookupFunction{
+			IncludeLookupsInPath("a"),
+		},
 	}
 
 	err := m.expand(&tmp)
@@ -57,3 +61,21 @@ func TestIncludePath(t *testing.T) {
 	assert.Equal(t, "1", tmp.C["ax"])
 	assert.Equal(t, "${b.x}", tmp.C["bx"])
 }
+
+func TestIncludePathMultiple(t *testing.T) {
+	tmp := fixture()
+	m := interpolate{
+		fns: []LookupFunction{
+			IncludeLookupsInPath("a"),
+			IncludeLookupsInPath("b"),
+		},
+	}
+
+	err := m.expand(&tmp)
+	require.NoError(t, err)
+
+	assert.Equal(t, "1", tmp.A["x"])
+	assert.Equal(t, "2", tmp.B["x"])
+	assert.Equal(t, "1", tmp.C["ax"])
+	assert.Equal(t, "2", tmp.C["bx"])
+}